$39m excess growth

THE Fiji Revenue and Customs Authority has surpassed its first quarter target by $39.1million.

The positive development followed a number of revenue items that had achieved record-breaking levels of growth rates.

FRCA CEO Jitoko Tikolevu said this achievement was unprecedented when compared with previous years.

He said there was a combination of factors that drove present revenue collections.

"There is no doubt that the current escalation in tax collection levels have been largely attributed to back to back solid economic performance," he said yesterday.

This, he said, was coupled with four years of positive gross domestic product growth, the continued pro-growth and expansionary government policies and the restructuring of tax system towards low rate and base broadening, aggressive tax compliance and debt management strategies.